IndusInd Bank rose 0.97% to Rs 1,574.30 at 14:30 IST on BSE on reports a domestic brokerage has maintained buy on the stock for target price of Rs 1,663 after impressive Q1 June 2017 earnings.
Meanwhile, the S&P BSE Sensex was up 35.89 points or 0.11% at 31,782.98.
On the BSE, 63,000 shares were traded on the counter so far as against the average daily volumes of 81,000 shares in the past two weeks. The stock had hit a high of Rs 1,580 and a low of Rs 1,564.60 so far during the day.
IndusInd Bank's net profit rose 26.48% to Rs 836.55 crore on 21.52% growth in total income to Rs 5302.77 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours yesterday, 11 July 2017. The stock had fallen a marginal 0.03% to settle at Rs 1,559.25 on that day.
The bank's gross non-performing assets (NPAs) stood at Rs 1271.68 crore as on 30 June 2017 as against Rs 1054.87 crore as on 31 March 2017 and Rs 860.64 crore as on 30 June 2016.
The ratio of gross NPAs to gross advances stood at 1.09% as on 30 June 2017 as against 0.93% as on 31 March 2017 and 0.91% as on 30 June 2016.
The ratio of net NPAs to net advances stood at 0.44% as on 30 June 2017 as against 0.39% as on 31 March 2017 and 0.38% as on 30 June 2016.
The bank's provisions and contingencies rose 34.49% to Rs 309.97 crore in Q1 June 2017 over Q1 June 2016.
IndusInd Bank is one of the leading private sector banks in India.
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